International Tower Hill Mines

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International Tower Hill Mines ( THM) controls a 100% interest in the Livengood gold project near Fairbanks, Alaska, which ranks among the top 2% in deposit size of recent gold discoveries. This stock is trading up 3.4% to $2.39 in recent trading.

Today's Range: $2.30-$2.43

52-Week Range: $1.91-$5.62

Volume: 63,000

Three-Month Average Volume: 222,310

From a technical perspective, THM is moving modestly higher here right off some near-term support at $2.29 and just above its 50-day moving average of $2.19 with lighter volume. This stock has been uptrending for the last month, with shares moving higher from its low of $1.91 to its recent high of $2.49. During that move, shares of THM have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of THM within range of triggering a near-term breakout trade. That trade will hit if THM manages to take out some near-term overhead resistance at $2.49 with high volume.

Traders should now look for long-biased trades in THM as long as it's trending above its 50-day at $2.19, and then once it sustains a move or close above $2.49 with volume that hits near or above 222,310 shares. If that breakout triggers soon, then THM will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $2.84 to $2.93. Any high-volume move above those levels will then put $3.18 to $3.24 into focus for shares of THM.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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